LEGRAND / 2018 Registration document
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MANAGEMENT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED DECEMBER 31, 2018
SELECTED FINANCIAL INFORMATION
The table below shows a reconciliation of the Group’s free and normalized free cash flow with net cash from operating activities:
2018
2017
2016
(in € millions)
Net cash from operating activities
925.3
863.7
831.8
Net proceeds from sales of fixed and financial assets
5.3
10.3
2.1
Capital expenditures
(150.6)
(144.6)
(126.3)
Capitalized development costs
(33.7)
(33.6)
(34.6)
Free cash flow
746.3
695.8
673.0
Increase (decrease) in working capital requirement
175.2
56.1
(40.4)
(Increase) decrease in normalized working capital requirement
(28.0)
(16.7)
(8.7)
Normalized free cash flow
893.5
735.2
623.9
The table below shows changes in the net financial debt of Legrand:
2018
2017
2016
(in € millions)
Long-term borrowings
2,918.6
2,457.1
1,550.7
Short-term borrowings
400.5
585.4
346.4
Cash and cash equivalents and marketable securities
(1,022.5)
(823.0)
(940.1)
Net financial debt
2,296.6
2,219.5
957.0
The table below shows the changes in Legrand’s equity:
2018
2017
2016
(in € millions)
Share capital
1,070.0
1,067.2
1,069.3
Retained earnings
4,051.8
3,644.6
3,227.8
Translation reserves
(530.6)
(573.2)
(240.0)
Equity attributable to equity holders of Legrand
4,591.2
4,138.6
4,057.1
178
LEGRAND
REGISTRATION DOCUMENT 2018
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